Why tomorrow is a crucial moment in the Ripple vs SEC lawsuit

Tomorrow is a crucial day for the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). March 26 is the deadline for the SEC to file a public version of their opening brief.

This letter is essential to the progress of the lawsuit as it outlines the SEC’s proposed legal and financial sanctions against Ripple.

The SEC’s demands are primarily based on institutional sales of

#XRPCommunity #SECGov v. #Ripple #XRP The @SECGov has filed, under seal, its opening remedies-related brief and supporting documents. These documents are not public yet. Public, redacted versions will be filed no later than Tuesday, March 26, 2024.

— James K. Filan (@FilanLaw) March 22, 2024

Ripple obliges to share finances

Judge Analisa Torres previously ordered Ripple Labs to produce financial statements for the years 2022-2023, as well as contracts related to the institutional sale of XRP. This decision follows the SEC’s assertion that this information is essential to determining appropriate penalties.

Ripple has countered that this financial data is both irrelevant to the case and highly confidential. Nevertheless, the court ruled that this information is potentially relevant for determining the measures to be taken.

XRP Ledger comes with new DeFi features

Besides the legal battle, there is also good news for Ripple. The XRP Ledger (XRPL) has reached a major milestone in the adoption of decentralized finance (DeFi) functions by introducing Automated Market Maker (AMM) functionality.

This development allows users to form liquidity pools between different currencies, leading to more efficient trading of cryptocurrencies within the XRP ecosystem. After an intensive year of development, Ripple Labs has implemented this long-awaited feature, adding a new dimension to the use of DeFi applications.

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